White House backpedals, No deal in place to roll back auto tariffs with China

From Paul A. Eisenstein : Carmakers were initially buoyed by the claim of an “incredible” trade deal emerging from Trump's dinner Sunday with Chinese President Xi Jinping.
The White House has now backpedaled, acknowledging there was no deal in place to roll back automotive tariffs.
The Chinese had levied a tariff of 25 percent and was set to roll the penalty back to just 15 percent.
What looked earlier this week like a resolution to the costly automotive tariff war with China has proven to be little more than a presidential boast.
The tit-for-tat trade war with China has been proving...Read more ...

The Latest: Trump optimistic despite haze around China trade

BEIJING - The latest on China-U.S. trade developments :
9:37 a.m.
President Donald Trump is expressing optimism that China will to push forward with a cease fire on trade as tensions between Washington and Beijing escalates.
Trump tweeted early Wednesday that Beijing is sending "very strong signals" about a new trade framework since returning from talks over the weekend in Buenos Aires.
China's Commerce Ministry did say on its website that it would begin "implementing specific issues on which consensus has been reached," but the vague statement included no details.
Global markets did not...Read more ...

Trump urges OPEC not to reduce oil outputs

U.S. President Donald Trump on Wednesday called on the Organization of the Petroleum Exporting Countries and its allies not to cut oil production next year, saying it would trigger higher oil prices worldwide.Read more ...

Morning News: December 5, 2018

Dow Tumbles Nearly 800 Points as Trade Jitters Return
Bank Stocks Were Bruised the Worst in the Sell-Off. Here's Why.
China Swings Into Action on Trade as ‘Tariff Man' Trump Ups Pressure
The U.S. Yield Curve Inversion Is a Happy Sign for Some
Trade Pledge Slows Stock Sell-Off; Pound Advances
Takeda Wins Shareholder Approval for Its Shire Megadeal
New York City Just Became the First US City to Set a Minimum Wage for Uber and Lyft Drivers
Kroger to Sell Groceries in Walgreens Stores
Slowing Cigarette Sales Push Altria to Explore Other Opportunities
In AT&T Merger Appeal, U.S. Has a Message...Read more ...

China confident on U.S. trade pact, Trump cites Xi's 'strong signals'

China expressed confidence on Wednesday that it can reach a trade deal with the United States, a sentiment echoed by U.S. President Donald Trump a day after he warned of more tariffs if the two sides could not resolve their differences.Read more ...

President Trump's renewed threats of more tariff pain in the absence of a deal with Beijing helped send stocks plummeting Tuesday.Read more ...

Trump says he believes China's Xi is sincere on trade

U.S. President Donald Trump on Wednesday said he believed Chinese President Xi Jinping was being sincere at their meeting on trade and that Beijing had been sending "strong signals" since then.Read more ...